Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Justbillywitt
on 06/01/2024, 23:45:49 UTC

You are not wrong Obim34 - however, the poor person should be trying to set himself up, to the best of his ability, so he does not have to think about or consider the possibility of selling his BTC, even if it becomes very tempting.  In other words, the greater and greater is the emergency fund, then the more likely all of the needs can be satisfied, and the BTC investment can continue to ride and serve as a kind of delayed gratification rather than considering that it needs to be tapped into in order to improve current needs or wants.

Maybe it takes 4-10 years or longer, before both the bitcoin portfolio and the emergency fund is built up high enough that other resources can start to be directed more towards current needs, wants and improving various aspects of the standard of living... and so there can be quite a bit of value in finding happiness in terms of living within your means and building your investment portfolio for a later date.. and hopefully you would not be so old in 4-10 years that you are not able to enjoy the various incremental ways that your BTC investment is likely to drag your standard of living upwardly with the passage of time.. even though it can seem like such a long time to get there.. especially for some guys who are investing in the $10 to $20 per week range, and it takes a year to invest $520 or $1,040, and it takes 10 years to invest $5,200 or $10,400.. so it could surely take a long time to build up your investment portfolio (including your BTC) in such a way that you might not feel as poor.. even if you still might not be exactly rich and might not be able to catch up to the rich person, but you can surely improve your own situation, even if you are disadvantaged in terms of the starting places of your finances.

Bitcoin DCA is open for everyone, as long as you are willing to invest at least 10$ in bitcoin every week there is good profit waiting for you, if you planning to invest for longer period. Here are result of investing 10$ a week for 10 years and 5 years.




https://dcacryptocalculator.com/bitcoin

"If you are born poor it’s not your mistake but if you die poor it’s your mistake." Whoever said this is very much true. As we are discussing on this thread, there are ways to improve your financial conditions for investing little amount in bitcoin for longer duration. Those who have enough cash can surely earn big here but there is room for those who have little cash with them.

What you said is true, no one should wait until he or she is in a comfortable zone before they can invest, why many people are poor today is because they don't think about expanding their cost with their little finance, they think big which is not a problem but they despise starting from the foundation, though investment is a mindset, when you don't have it, it will be almost impossible for you to invest if the minimum starting amount for such investment is 1$.
Investment is not just something you wake up one morning and dive into. Proper planning needs to be done about it before taking the first step or venturing into investment. If this is not done I think that investment might not last long before it will be sold off, and most of the times losses are usually incurred. If you take time to plan for your investments, even in your little finance you will map out a certain percentage of your income for investment, so that when the opportunity arises you won't find it difficult to invest, as the amount set aside will come in handy.  Those waiting to be in comfort zones before investing often ends up without having any investments on their names and they usually the best losers and they are the people who will be pressing the calculators for those who took the bold step and invested even though they didn't have enough money but made that sacrifice.